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How do employee training and knowledge stocks affect product innovation?

Author

Listed:
  • Yannis Caloghirou
  • Ioannis Giotopoulos
  • Efthymia Korra
  • Aggelos Tsakanikas

Abstract

The main purpose of this paper is to explore how interactions of knowledge flows and knowledge stocks could shape firms’ innovative performance. Knowledge flows are measured on the grounds of human resource training practices while different levels and forms of knowledge stocks (i.e. educational attainment, exporting activity, and firm age) are considered. We make use of two-period panel probit regressions and a rich data survey of the 524 largest Greek manufacturing firms conducted in two waves (2011 and 2013). Our findings suggest that the beneficial effects of knowledge flows strengthen when knowledge stocks accumulated by employees’ education and firm age are low. When knowledge stocks are limited, knowledge flows can act as a bridge for product innovation. On the contrary, when knowledge stocks are high, higher investments in knowledge flows may lead to diminishing returns and, thus, to decreased innovation performance beyond a certain point.

Suggested Citation

  • Yannis Caloghirou & Ioannis Giotopoulos & Efthymia Korra & Aggelos Tsakanikas, 2018. "How do employee training and knowledge stocks affect product innovation?," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 27(4), pages 343-360, May.
    • Handle: RePEc:taf:ecinnt:v:27:y:2018:i:4:p:343-360
    DOI: 10.1080/10438599.2017.1362796
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    Cited by:

    1. Samuel Amponsah Odei & Jan Stejskal & Viktor Prokop, 2021. "Understanding territorial innovations in European regions: Insights from radical and incremental innovative firms," Regional Science Policy & Practice, Wiley Blackwell, vol. 13(5), pages 1638-1660, October.
    2. Zheng Zhang & Yuping Deng & Sam Hak Kan Tang, 2019. "Do Foreign Mergers and Acquisitions Increase Acquired Firms’ Innovation? Evidence from Chinese Manufacturing Firms," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 52(1), pages 41-60, March.
    3. Nigel Driffield & Jun Du & Jan Godsell & Mark Hart & Katiuscia Lavoratori & Steven Roper & Irina Surdu & Wanrong Zhang, 2021. "Understanding productivity:Organisational Capital perspectives," Working Papers 013, The Productivity Institute.
    4. Carmen Emilia Chașovschi & Carmen Nastase & Mihai Popescu & Adrian-Liviu Scutariu & Iulian-Alexandru Condratov, 2021. "Human Resources Training Needs in the Small and Medium Enterprises from Cross-Border Area Romania-Ukraine-Republic of Moldova," Sustainability, MDPI, vol. 13(4), pages 1-28, February.
    5. Juliao-Rossi, Jorge & Forero-Pineda, Clemente & Losada-Otalora, Mauricio & Peña-García, Nathalie, 2020. "Trajectories of innovation: A new approach to studying innovation performance," Journal of Business Research, Elsevier, vol. 115(C), pages 322-333.
    6. BeomJu Park & Chang-Yang Lee, 2023. "Does R&D cooperation with competitors cause firms to invest in R&D more intensively? evidence from Korean manufacturing firms," The Journal of Technology Transfer, Springer, vol. 48(3), pages 1045-1076, June.
    7. Chie Hoon Song, 2021. "Exploring and Predicting the Knowledge Development in the Field of Energy Storage: Evidence from the Emerging Startup Landscape," Energies, MDPI, vol. 14(18), pages 1-20, September.
    8. Antonella Biscione & Chiara Burlina & Raul Caruso & Annunziata de Felice, 2021. "Innovation in Transition countries: the role of training," Working Papers 1013, European Centre of Peace Science, Integration and Cooperation (CESPIC), Catholic University 'Our Lady of Good Counsel'.

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